Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Versor Investments LP

Versor Investments LP reduced its position in Dropbox, Inc. (NASDAQ:DBX) by 52.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,800 shares of the company’s stock after selling 7,489 shares during the quarter. Versor Investments LP’s holdings in Dropbox were worth $204,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. raised its holdings in Dropbox by 13.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,956 shares of the company’s stock valued at $202,000 after acquiring an additional 926 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Dropbox by 6.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock valued at $59,907,000 after purchasing an additional 134,503 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of Dropbox by 10.6% in the third quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock valued at $5,638,000 after purchasing an additional 21,190 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Dropbox in the third quarter valued at approximately $28,000. Finally, Covestor Ltd lifted its position in Dropbox by 34.3% during the third quarter. Covestor Ltd now owns 4,043 shares of the company’s stock worth $102,000 after buying an additional 1,033 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Insider Buying and Selling

In other Dropbox news, insider Eric Cox sold 3,765 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $26.30, for a total transaction of $99,019.50. Following the transaction, the insider now directly owns 309,550 shares in the company, valued at $8,141,165. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction on Monday, December 30th. The shares were sold at an average price of $30.38, for a total value of $75,950.00. Following the completion of the sale, the chief financial officer now directly owns 413,764 shares of the company’s stock, valued at $12,570,150.32. The trade was a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 772,003 shares of company stock valued at $23,067,375. 28.59% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Jefferies Financial Group upped their target price on Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a report on Monday, January 6th.

Dropbox Price Performance

Dropbox stock opened at $26.32 on Wednesday. The firm has a 50 day simple moving average of $30.43 and a 200-day simple moving average of $27.82. The stock has a market cap of $7.94 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.11). Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The business had revenue of $643.60 million for the quarter, compared to analyst estimates of $638.61 million. Equities analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

About Dropbox

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.